The global Migraine Treatment Market is expected to garner a market value of USD 3.2 Billion in 2023 and is expected to accumulate a market value of USD 4.74 Billion by registering a CAGR of 4% in the forecast period 2023 to 2033. The market for Migraine Treatment registered a CAGR of 3% in the historical period 2018 to 2022.
The Migraine Treatment market is a segment of the healthcare industry that deals with the effective management of the condition. The Migraine Treatment market offers a range of products and services for its effective management and treatments including medications such as including over-the-counter pain relievers like aspirin and ibuprofen, lifestyle changes, such as maintaining a regular sleep schedule, avoiding triggers like certain foods or activities, and engaging in stress-reducing activities like exercise or meditation, Neuromodulation devices, Cognitive-behavioral therapy (CBT), Acupuncture, and Nutritional supplements.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 3.2 Billion |
| Anticipated Forecast Value (2033) | USD 4.74 Billion |
| Projected Growth Rate (2023 to 2033) | 4% CAGR |
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According to market research and competitive intelligence provider, Future Market Insights- the market for Migraine Treatment reflected a value of 3% during the historical period, 2018 to 2022. During this period, the demand for treatment for Migraine increased due to the rising prevalence of Stress, Changes in routine, Lack of access to healthcare, Changes in medication access and so on. With many people working from home and changes to daily routines, some individuals experienced changes in sleep patterns, diet, and exercise that triggered migraines.
The market for Migraine Treatment is gaining prominence as there is growing interest in non-pharmacological approaches to migraine treatment, such as cognitive behavioral therapy, acupuncture, and relaxation techniques. This has led to the emergence of new players in the market, including digital health companies offering mobile apps and other technology-based solutions to help patients manage their migraines.
Looking ahead to the period from 2023 to 2033, the gene therapy market for Migraine is expected to continue growing. The increasing prevalence of Migraine and the rising demand for effective treatments are expected to drive demand for gene therapy in this space.
Overall, the migraine treatment market is expected to continue to grow in the coming years, as new treatments become available and awareness of the condition continues to increase. In the years to come, increasing focus by government organizations and private agencies like WHO and pharmaceutical companies are creating awareness of Migraine Treatment, fuelling the market growth. Thus, the market for Migraine Treatment is expected to register a CAGR of 4% in the forecast period 2023 to 2033.
Growing advancements in diagnostic and treatment options to push the market growth
The global Migraine Treatment market is primarily driven by an increased prevalence of Migraine, which is driving the demand for effective treatments. According to the Migraine Research Foundation, migraine is the third most common disease in the world, affecting an estimated 1 billion people globally. This large patient population represents a significant market opportunity for companies developing migraine treatments.
In recent years, there has been a growing focus on developing targeted therapies that can provide more effective and personalized treatment for migraine patients. For example, new monoclonal antibodies targeting the calcitonin gene-related peptide (CGRP) pathway have been shown to be highly effective in preventing migraines in some patients.
Additionally, the growth of the Migraine Treatment market is owed to ongoing research and development, which is leading to an increased potential for new and improved treatment options to become available for patients with Migraine. There is a growing investment in research and development of treatments for Migraine, with many biotech and pharmaceutical companies working on developing new gene therapies for these conditions.
For instance, in February 2022, Biohaven Pharmaceutical Holding Company Ltd. and Pfizer Inc. reported that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) adopted a positive opinion for Rimegepant, a calcitonin gene-related peptide (CGRP) receptor antagonist. It is recommended as the 75 mg dose of Rimegepant (available as an orally dissolving tablet) for marketing authorization for both the acute treatment of migraine with or without aura in adults and the preventive treatment of episodic migraine in adults who have at least four migraine attacks per month.
As more effective treatments become available, patients with Migraine may experience better health outcomes and quality of life. This could increase demand for management options and further drive market growth.
Expensive Cost of Treatment to restrict Market Growth
The market is projected to get significantly affected by the challenging factors such as Limited treatment options, High cost of medications, Limited research and development, Stigma and lack of awareness, and Access to care.
Migraines are often misunderstood and stigmatized, which can make it difficult for patients to receive appropriate care and support. Furthermore, patients in some areas may not have access to specialized headache clinics or neurologists. Many migraine medications are expensive, which can be a barrier to access for some patients. In addition, many patients experience side effects from medications, which can make it difficult to find a treatment that is both effective and well-tolerated.
Increasing Healthcare Spending Shaping Landscape for Migraine Treatment in South & East Asia
Migraines are becoming increasingly prevalent in the south & East Asia region, with an estimated 8-12% of the population affected by the condition. As the population grows and ages, the number of individuals with migraines is expected to increase, driving demand for treatments.
Healthcare spending is increasing in many countries in the region, which is expected to drive demand for migraine treatments. As individuals become more affluent and more willing to spend on healthcare, demand for treatments is likely to increase.
Increasing Focus on Technological advancements Shaping Landscape for Migraine Treatment in North America
North America is anticipated to acquire a market share of about 40% in the forecast period. This growth is attributable to the high prevalence of Migraine in North America which has led to a strong demand for new treatments. Additionally, North America has a well-developed healthcare infrastructure, along with a high level of research and development, significant investment, and a supportive regulatory environment.
The United States of America holds the highest share in the North American market, followed by Canada. According to the article titled "What is Migraine?" published in the JAMA Network in January 2022, in the United States, 17.1% of women and 5.6% of men reported having migraine symptoms. The emergence of digital health technologies and mobile apps is also driving growth in the migraine treatment market. These technologies offer new ways for patients to manage their migraines, and can also provide healthcare professionals with valuable insights into patient symptoms and treatment response.
Presence of a large number of pharmaceutical companies, which are investing heavily in the development of new, targeted treatments for the condition, and high level of healthcare expenditure leading to a large patient population are some of the factors responsible for the growth of the market in the region.
Preventive medications to hold a significant share and push market growth
According to various reports and studies, Preventive medicines are used to reduce the frequency and severity of migraine attacks, and are taken on a regular basis. These medications are typically used for patients who experience frequent or severe migraines, and can include beta blockers, antidepressants, anticonvulsants, and CGRP inhibitors.
The preventive medicine segment is expected to grow at a faster rate due to increasing awareness of the benefits of preventive treatments and the availability of new and more effective medications.
Hospital Pharmacies to take the lead and drive market growth
According to the FMI analysis, Hospital pharmacies account for the largest market share. The requirement for several hospital stays and visits during the Migraine Treatment treatment facilitates the growth of this segment. Majority of the serious diseases involving the nervous system are treated in hospitals, and with the availability of trained medical personnel, it is simpler to control an individual's health more correctly.
Key players in the market include companies such as Lundbeck Seattle BioPharmaceutical, Eli Lilly and Company, Amgen, Novartis, Allergan, Teva Pharmaceuticals, Biohaven Pharmaceuticals, Biohaven Pharmaceuticals, Dr. Reddy’s Labs, AbbVie, Impel NeuroPharma, Zosano Pharma, Aeon Biopharma Inc., Ionis Pharmaceuticals, Inc., and Charleston Laboratories, along with healthcare providers and technology companies among other global players.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 3.2 Billion |
| Market Value in 2033 | USD 4.74 Billion |
| Growth Rate | CAGR of 4% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Drug Class, Route of Administration, Treatment, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Rest of Latin America, Germany, United Kingdom, France, Spain, Italy, Rest of Europe, Malaysia, Singapore, China, India, Thailand, Rest of South Asia, Gulf Cooperation Council, Japan, South Korea, Australia, New Zealand, GCC countries, South Africa, Israel, Rest of MEA |
| Key Companies Profiled | Lundbeck Seattle BioPharmaceutical; Eli Lilly and Company; Amgen; Novartis; Allergan; Teva Pharmaceuticals; Biohaven Pharmaceuticals; Biohaven Pharmaceuticals; Dr. Reddy’s Labs; AbbVie; Impel NeuroPharma; Zosano Pharma; Aeon Biopharma Inc.; Ionis Pharmaceuticals, Inc.; and Charleston Laboratories, |
| Customization | Available Upon Request |
The migraine treatment market is worth USD 3.2 billion in 2023.
The market is forecast to expand at a CAGR of 4% CAGR.
Increasing advancements in the migraine treatment and surging focus on the targeted therapies.
North America, with a market share of 40%, monopolizes the global market.
Preventive medicine holds significant market share.
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Migraine Treatment Market
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